Greenwich LifeSciences (NASDAQ:GLSI) Stock Price Up 3.1% - Here's What Happened

Greenwich LifeSciences, Inc. (NASDAQ:GLSI - Get Free Report)'s share price was up 3.1% during trading on Tuesday . The stock traded as high as $13.80 and last traded at $13.80. Approximately 8,827 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 41,049 shares. The stock had previously closed at $13.39.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their price target on Greenwich LifeSciences from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, August 23rd.

Greenwich LifeSciences Price Performance

The company has a market cap of $175.04 million, a price-to-earnings ratio of -18.88 and a beta of 1.61. The business's fifty day moving average price is $14.07 and its 200 day moving average price is $14.49.

Greenwich LifeSciences (NASDAQ:GLSI - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). As a group, equities research analysts anticipate that Greenwich LifeSciences, Inc. will post -0.81 EPS for the current year.

Insider Transactions at Greenwich LifeSciences

In other news, CEO Snehal Patel bought 5,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $13.18 per share, with a total value of $72,490.00. Following the completion of the purchase, the chief executive officer now directly owns 5,532,602 shares of the company's stock, valued at approximately $72,919,694.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have bought 8,800 shares of company stock worth $120,665. Company insiders own 52.86% of the company's stock.

Institutional Investors Weigh In On Greenwich LifeSciences

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Greenwich LifeSciences by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 223,102 shares of the company's stock worth $4,449,000 after buying an additional 1,420 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Greenwich LifeSciences during the second quarter worth $264,000. Finally, Rhumbline Advisers bought a new position in Greenwich LifeSciences during the second quarter worth $117,000. 4.16% of the stock is currently owned by institutional investors.

Greenwich LifeSciences Company Profile

Greenwich LifeSciences, Inc, a clinical-stage biopharmaceutical company, develops novel cancer immunotherapies for breast cancer and other HER2/neu-expressing cancers. Its lead product candidate is GP2, an immunotherapy, which is in Phase III clinical trial to prevent breast cancer recurrences in patients who have previously undergone surgery.